Immunome (NASDAQ:IMNM) Shares Gap Up – Still a Buy?

Immunome, Inc. (NASDAQ:IMNM) gapped up before the market opened on Friday . The stock had previously closed at $12.54, but opened at $13.26. Immunome shares last traded at $13.42, with a volume of 126,560 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IMNM shares. Piper Sandler cut their price objective on Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Wedbush reissued an “outperform” rating and set a $33.00 price objective on shares of Immunome in a report on Friday, October 25th. Finally, Stephens started coverage on Immunome in a report on Friday. They set an “overweight” rating and a $30.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $29.17.

Immunome Trading Up 3.5 %

The firm has a market capitalization of $779.45 million, a P/E ratio of -1.69 and a beta of 1.82. The company has a 50-day moving average of $13.39 and a 200-day moving average of $13.88.

Immunome (NASDAQ:IMNM) last announced its earnings results on Monday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.11). The company had revenue of $2.36 million for the quarter, compared to the consensus estimate of $2.62 million. Immunome had a negative return on equity of 38.19% and a negative net margin of 2,435.02%. Research analysts predict that Immunome, Inc. will post -1.92 EPS for the current year.

Insider Buying and Selling

In related news, insider Jack Higgins sold 3,524 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $13.93, for a total transaction of $49,089.32. Following the completion of the transaction, the insider now directly owns 16,000 shares of the company’s stock, valued at $222,880. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jack Higgins sold 3,524 shares of Immunome stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $13.93, for a total value of $49,089.32. Following the completion of the transaction, the insider now directly owns 16,000 shares of the company’s stock, valued at approximately $222,880. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jean Jacques Bienaime acquired 7,000 shares of the stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $13.94 per share, with a total value of $97,580.00. Following the completion of the transaction, the director now owns 16,615 shares in the company, valued at approximately $231,613.10. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 8.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Arizona State Retirement System raised its position in shares of Immunome by 9.2% in the 2nd quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after acquiring an additional 918 shares in the last quarter. Clear Creek Financial Management LLC increased its position in Immunome by 18.2% in the 2nd quarter. Clear Creek Financial Management LLC now owns 26,188 shares of the company’s stock valued at $317,000 after buying an additional 4,035 shares in the last quarter. AQR Capital Management LLC increased its position in Immunome by 34.6% in the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after buying an additional 4,129 shares in the last quarter. EntryPoint Capital LLC increased its position in Immunome by 21,864.0% in the 1st quarter. EntryPoint Capital LLC now owns 5,491 shares of the company’s stock valued at $136,000 after buying an additional 5,466 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Immunome in the 2nd quarter valued at about $81,000. 44.58% of the stock is owned by institutional investors.

Immunome Company Profile

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.